ConAgra deal confirmed

HURON — There's a deal in place to, once and for all, develop a long-vacant waterfront property. During Tuesday's public meeting, Huron city council members approved a purchase agreement with an entity known as Triban Investment to resurrect the former ConAgra site, off Cleveland Road East (U.S. 6), into a residential setting. Triban represents a partnership between K. Hovnanian's Ohio division and Knez Homes, out of Painesville, to build 94 townhomes standing two or three stories high. Diving into the details Here are the deal's most notable details as explained by Huron city manager Matt Lasko: • Triban agreed to pay Huron's government $750,000 for this roughly 11-acre site to, eventually, build there and become the land's new owner. • Of this $750,000: — $250,000 will be paid upfront. — $500,000 will be paid incrementally each time an on-site unit, once built, gets sold. From an individual sale, Huron will receive $10,000. Once the first 50 units get sold, Huron will get $500,000 and be made whole. • Huron, however, retains a mortgage on this land until it receives every single penny of this $750,000. • From today, Triban has a window of nine months — which would stretch out until October — before it's legally obligated to build. Triban can use this time to perform any studies, such as for environmental purposes. • Huron officials must approve all building plans before actual construction work begins. • Beyond townhouses, Triban must build and maintain public access around the property's perimeter. "One of the things Huron prides itself on is public space and waterfront access, and we thought it was critical to ensure that not just the residents of the site but the public also gets the enjoyment of waterfront views," Lasko said. • Huron's government is financially responsible for reconstructing the property's north and east side seawalls to ensure site stability. "But that will be paid back through future real estate taxes coming from the project," Lasko said. "No local dollars will pay for those improvements." • If somehow the deal falls through, then ownership falls back to Huron's government. Looking ahead Lasko then offered some insight into when actual construction work could begin. It's possible a groundbreaking might occur as soon as later this year. At the latest, it would happen no later than early 2026. Work would happen in phases, meaning some units, theoretically, would get completed before construction starts on others. Lasko expects each townhouse to begin selling for "$400,000 and up." Both companies making up Triban are reputable builders and respected in the construction industry, Lasko said. It's given him and others involved in this deal confidence about moving forward. "What really stood out, first and foremost, was the horsepower both of these companies have in terms of financial capabilities but also the capacity to undertake large development projects," Lasko said. "K. Hovnanian is one of the top 20 home builders in the nation while Knez Homes continues to be one of the largest home builders in northern Ohio." When combining the public and private investments, this project could total $40 million. Signing the purchase agreement "is a significant step in moving forward with the eventual redevelopment of the ConAgra site, which has sat in limbo for the last 10 to 15 years," Lasko said. Have faith This project, for more than a decade now, kept getting delayed for a variety of reasons, all centering on this development's complex nature. It's caused several plans proposed beforehand to ultimately fail. Realizing plans for the site — a previous grain elevator that imploded during a public event in 2012 — have gone through many starts, stops, resets and pauses, Lasko understands why many community members might feel frustrated. But he offered up the following. "Without question, this site is much more unique than a 40-acre cornfield or greenfield existing in a suburb or in some rural area," Lasko said. "We are dealing with the need to have significant public infrastructure financed," he added. "We are dealing with the Army Corps of Engineers on significant seawall improvements and we also know this site demands a very unique type of design that will do it justice and be something the community can be proud of." Many locals have been critical of the city's government about its inability to get something built there. Lasko countered those claims. "What may be viewed as one or two failures over the years, we view it as absolutely being necessary in making sure we get a perfect development for that site that this community deserves," said Lasko, describing the former ConAgra site as "one of the greatest redevelopment opportunities along Lake Erie if not the entire set of Great Lakes." "We feel it's better to take the time to get the right project than to push something through that is not going to raise to the standard that this community expects," he said.